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Long-term financing: State Bank raises lending rates by 150 basis points
The central bank that maintained its key policy rate at 14% in its last monetary policy decision amid stubborn inflation and government’s failure to diversify its sources of borrowing has raised the lending rates on long-term financing for export-oriented industries by 150 basis points (or 1.5 percentage points) from July 1, 2011. Under the Long-Term [...]
Continue reading...Government backs down after ADB threat
23. June 2011
ISLAMABAD: The Asian Development Bank (ADB) forced Pakistan at the eleventh hour to withdraw a budgetary proposal on the threat that a loan tranche of $200 million expected to be released by the end of June would be stopped, indicating the extent of influence international lending agencies enjoy in the country. The ‘bare threat’ came [...]
Continue reading...Standard Chartered to expand consumer, Islamic banking in Pakistan
12. June 2011
To grow its business in Pakistan, Standard Chartered plans to focus on expanding its consumer banking line as well as its Islamic banking portfolio, according to the bank’s Pakistan head, Mohsin Nathani. We have a fairly bullish view to Islamic banking in Pakistan, said Nathani in an interview. Islamic banking is one of the fastest [...]
Continue reading...ADB to give $400m for infrastructure
31. May 2011
KARACHI: The Asian Development Bank (ADB) will give $400 million for a programme to improve the infrastructure and municipal utility services for about five million people of the province through reforms and investments, said ADB’s urban specialist Kathie Julian on Monday. She said this at a meeting on the Sindh Cities Improvement Programme (SCIP) presided [...]
Continue reading...Increase in income tax on the cards
31. May 2011
KARACHI: The government’s aggressive stance on increasing tax revenues points to a possible rise in taxes on the banking sector, according to BMA Capital. Higher regional taxes on financial institutions have been cited as a reason for the move to rationalise taxes on the domestic banking industry, said BMA Capital analyst Omar Rafiq. Top seven [...]
Continue reading...SBP quarterly report: Banking sector assets rise by 8%
25. May 2011
KARACHI: Assets of the banking system grew by 7.7% to Rs7.1 trillion during October-December 2010 mainly because of investments in government papers and seasonal credit requirements of the private sector due to soaring input prices, said the State Bank of Pakistan (SBP) in a report. The SBP, in the Quarterly Performance Review of the Banking [...]
Continue reading...Meezan Bank 8 to 8 Banking
16. October 2009
Islamic banking in Pakistan has grown rapidly in the last few years. Keeping in view the small size of the industry and its evolutionary nature, the growth achieved so far has been impressive and has persistently outpaced its conventional counterparts. Meezan Bank has recently started specialized banking services from 8AM to 8PM to facilitate customers. [...]
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© 2009 Voice of Pakistan 
2. July 2011
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